Estonian company Bolt Technology OU is set to launch eScooter rentals in multiple cities across the United States and is currently seeking managers for this new venture. Job postings were recently placed on LinkedIn, specifically looking for general managers and operations managers in cities such as Los Angeles, Seattle, and Austin, Texas.
Bolt already has a strong presence in over 45 countries, offering ride hailing, food delivery, and scooter rentals. This move by Bolt will put them directly up against Lime, a San Francisco-based company that operates shared eBikes and scooters in the U.S., Europe, and Australia. Lime is backed by Uber Technologies and is investing $55 million this year to expand its global fleet. Both Bolt and Lime are positioning themselves for initial public offerings (IPOs) in the near future.
In recent news, Bolt secured a 220-million-euro revolving credit facility from a group of core relationship banks. CEO Markus Villig expressed his confidence in the company’s financial standing and their trajectory towards being IPO-ready. On the other hand, Lime reported a record-setting year in 2023 with over 150 million total rides and $600 million in gross bookings.
While electric scooter startup Bird filed for bankruptcy in December, they have since emerged successfully under a new parent company called Third Lane Mobility. Bird will continue to operate in cities worldwide despite facing financial challenges. Both Bolt and Lime are optimistic about their expansion plans and growth prospects in the electric scooter rental industry.
Overall, it seems that there is significant competition within the electric scooter rental industry as companies continue to invest heavily into expanding their fleets and entering new markets.
